Since the beginning of 2024, the AI domain in the Czech Republic has shown both opportunities and challenges. In terms of the number of startups analyzed, Czechia ranks fourth in the number of AI startups in Central and Eastern Europe, following Poland, Greece, and Romania. However, it ranks last in total funding raised by AI startups, with only €24M—over 70% less than the €87M raised in 2023. However, rounds such as Upheal (€9.5M), Apify (€2.8M), and SprayVision (€2M) were closed. This decline could stem from various factors, including reduced activity among AI startups or a potential increase in activity where additional funding was not necessary.
The information in this article is based on The Recursive’s State of AI in 2024 report. Download it here and get the latest insights about the CEE startup ecosystem.
By August 2024, 133 AI product companies were identified, with 64% of funding rounds happening at the seed stage, showcasing a focus on early-stage innovation. While the Czech Republic lags in total funding compared to its CEE peers, the nation is advancing AI technologies, particularly in areas like machine learning, robotics, and computer vision.
Venture Capital Funds that Raised Fresh Money in 2024
- Presto Tech Horizons (€150M): Focused on supporting early-stage AI startups, with ticket sizes ranging from €500K to €5M.
- Purple Ventures (€40M): Provides funding between €250K and €750K to promising startups.
- ZAKA VC (€10.5M): Offers investments of €250K to €300K, targeting niche, innovative startups in emerging markets.
Key Startups and Their Innovations
- Filuta AI: Enables businesses to create and manage Composite AI solutions through self-supervised learning and integration of various AI modeling techniques.
- E2B: Develops an open-source cloud infrastructure designed specifically for AI agents, enabling developers to securely run and test AI-generated code.
- Myriad AI: Builds AI solutions that automate regulatory compliance for enterprises.
- Kardi AI: Offers affordable, AI-driven heart monitoring solutions for continuous ECG recording and analysis, facilitating early diagnosis and preventive care for cardiovascular diseases.
Despite the decline in total funding, the Czech Republic’s commitment to AI remains strong. With government initiatives like the National Artificial Intelligence Strategy 2030 and an 8% increase in the science and research budget for 2025, Czechia is fostering a robust environment for growth.
